This is happening against the backdrop of yesterday's militant speech by the Supreme Leader Ali Khamenei, who declared that there is no point in negotiating with the US and that his country will never give up its nuclear and missile program. 

Additionally, unless there is a last-minute surprise, in three days UN sanctions on Iran are expected to come into effect as part of the snapback mechanism activated by the European powers.

Due to these developments, Iranians are rushing to buy dollars in an attempt to preserve their wealth. The dollar exchange rate today in the black market reached an all-time high – 1,082,500 rials – a daily increase of nearly 2%.